Is Jeremy Hunt really cutting our taxes?
The News Agents
Global
4.1 • 5.4K Ratings
🗓️ 22 November 2023
⏱️ 36 minutes
🧾️ Download transcript
Summary
The government is running out of chances to change the course of politics.
Today’s Autumn Statement was one of them. It was billed by PM Rishi Sunak and Chancellor, Jeremy Hunt, as a tax-cutting budget, a reward for the tough economic decisions they’d taken earlier.
But have they really cut your taxes? And is the economic situation really much improved since they told us there was no room for cutting taxes?
Forget the spin, this is what the Autumn Statement really told us about where our economy and politics is going next.
Senior Producer: Gabriel Radus
Producer: Laura FitzPatrick
Social Media Editor: Georgia Foxwell
Video Production: Rory Symon & Arvind Badewal
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Transcript
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| 0:00.0 | The Newsagents podcast is brought to you by HSBC UK, opening up a world of opportunity. |
| 0:08.0 | This is a global player original podcast. |
| 0:11.1 | We are delivering the biggest business tax cut in modern British history. |
| 0:17.0 | The largest ever cut to employee and self-employed national insurance |
| 0:22.6 | and the biggest package of tax cuts to be implemented since the 1980s, |
| 0:28.1 | an autumn statement for a country that has turned a corner, |
| 0:31.1 | an autumn statement for growth, which I commend to the House. |
| 0:35.4 | Yeah, and the Tory's cheered mega tax giveaway. We're all going to be feeling |
| 0:40.2 | so much better off tomorrow as a result of Jeremy Hunt's changes. Or are we? Isn't it a bit more |
| 0:47.4 | complicated than that, given the forecasts for the way the tax take is going to carry on rising? |
| 0:53.1 | Shadow Chancellor Rachel Reeves reminded the country |
| 0:56.8 | that the economy is forecast to be £40 billion smaller. |
| 1:02.0 | Her words, growth has hit a dead end. |
| 1:04.8 | And without growth, does any of that tax cutting even touch the sides? |
| 1:09.9 | Welcome to the news agents. The news agents. |
| 1:17.1 | It's John. It's Emily. And it's Lewis. And if you all sat there thinking, well, God, isn't it just six |
| 1:23.2 | months or so since we had a budget, you would be absolutely right. It is indeed six months since we |
| 1:26.6 | had a budget. Because we have got ourselves as a country into this slightly peculiar |
| 1:30.1 | position where we basically have two so-called fiscal events a year when the Chancellor gets |
| 1:35.8 | up and announces a sort of sweep or reannounces often a sweep of different tax changes |
| 1:39.7 | and so on, which lots of businesses would rather happen less frequently because so things |
| 1:42.9 | are more consistent, but we are where we are. And and as we were saying yesterday this is one of the last big |
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